Non-controlling Interest

12 Months Ended

Dec. 31, 2025

25.

Non-controlling interest


	Hepsiburada			Other		Total
Country of operation	Türkiye				—		—
Non-controlling interests share
As at 31 December 2023		—			—		—
As at 31 December 2024		—			—		—
As at 31 December 2025		24.04	%		—		—
Net (loss)/income attributable to Non-controlling interest
For the year ended 31 December 2023		—			7,419		7,419
For the year ended 31 December 2024		—			17,095		17,095
For the year ended 31 December 2025		(21,672	)		16,202		(5,470	)
Total comprehensive (loss)/income attributable to Non-controlling interest
For the year ended 31 December 2023		—			7,620		7,620
For the year ended 31 December 2024		—			17,428		17,428
For the year ended 31 December 2025		(11,819	)		15,413		3,594
Non-controlling interests
As at 31 December 2024		—			55,637		55,637
As at 31 December 2025		53,186			56,548		109,734

The following is condensed financial information for the Hepsiburada for the year ended 31 December 2025:


	2025
CONDENSED STATEMENT OF FINANCIAL POSITION
Current assets		350,073
Non-current assets		349,232
Total assets		699,305
Current liabilities		394,005
Non-current liabilities		84,062
Net assets		221,238
CONDENSED STATEMENT OF OPERATIONS
Revenue		1,036,582
Net loss		(68,034	)
Total comprehensive loss		(68,075	)
CONDENSED STATEMENT OF CASH FLOWS
Cash flows from operating activities		128,285
Cash flows from investing activities		35,142
Cash flows from financing activities		(109,023	)
Effect of changes in foreign exchange rate on cash and cash equivalents		(25,331	)
Cash and cash equivalents, beginning of period		104,237

Cash and cash equivalents, end of period		133,310

Dividend paid to non-controlling interests		—